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Forex

Dollar Gains as Service Industries Expand

February 3rd, 2011
US DollarThe US dollar gained today, reversing its downward trend that was in place for past several days, after the set of the good economic data from the US was released, including the report about the service industries.

Euro Slumps as ECB Holds Interest Rates Unchanged

February 3rd, 2011
EuroThe euro tumbled today as the European Central Bank left the interest rates unchanged and the comments of bank’s President Jean-Claude Trichet caused the speculation that the rates will remain unchanged for the whole year.

Rising Services PMI Pushes Pound Further Up

February 3rd, 2011
Great Britain poundThe Great Britain pound rose today for a fourth day as the growth of the UK service industries in January was better than the economists predicted, reinforcing the outlook for a interest rates hike by Britain’s central bank.

Australian Dollar Rises with Mortgage Approvals & Trade Surplus

February 3rd, 2011
Australian dollarThe Australian dollar went up today as the number of mortgage approvals surged and the trade surplus expanded more than predicted.

Ruble Gains as Brent Oil Trades Above $100

February 3rd, 2011
Russian rubleThe Russian ruble strengthened after Brent crude oil rallied above $100, attracting investors to the assets of the biggest world energy exporter.

Loonie Gains as Crude Oil Climbs to Two-Year High

February 3rd, 2011
Canadian DollarThe Canadian dollar rose today as the prices for crude oil rallied to the highest level in two years and as the global economic recovery increased attractiveness of the currencies linked to growth.

Yen Weakens as Economic Recovery Progresses

February 2nd, 2011
Japanese yenThe Japanese yen dropped today as the signs of the accelerating economic recovery decreased the attractiveness of the currency as a safe haven.

Pound Extends Gains on Expanding Construction Sector

February 2nd, 2011
Great Britain poundThe Great Britain pound continued its rally today, rising for a third day against the US dollar, as the report showed that UK construction sector returned to growth in January.

Lower Demand for Safety Saps Strength of Swiss Franc

February 2nd, 2011
Swiss francThe good reports from Europe, especially Germany and the general optimism about the global economy reduced demand for safer currencies, including the Swiss franc, which retreated versus the Euro. The franc rose against the US dollar.

Global Economic Recovery Reduces Demand for US Dollar

February 2nd, 2011
US DollarThe US dollar weakened today as the signs that the global economic recovery gains momentum caused investors favor riskier assets over safer ones, reducing appeal of the US currency.